logo
Plus   Neg
Share
Email

Stock Alert: Moleculin Biotech Soars 165% On Potential Treatment For COVID-19

Shares of Moleculin Biotech, Inc. (MBRX) surged about 165% on Wednesday morning after the biotechnology company announced a potential treatment for COVID-19.

MBRX is currently trading at $1.49, up $0.9273 or 164.7948%, on the Nasdaq.

The clinical stage pharmaceutical company announced that independent research found 2-deoxy-D-glucose to reduce replication of SARS-CoV-2, the virus that causes COVID-19, by 100% in in vitro testing.

Researchers at the University of Frankfurt disclosed the findings in their article submitted to NatureResearch on March 11, 2020.

The authors reported that inhibiting glycolysis with non-toxic concentrations of 2-DG completely prevented SARS-CoV-2 replication in Caco-2 cells.

"This is the breakthrough we were looking for, only it came from an unexpected source," commented Walter Klemp, Chairman and CEO of Moleculin. "Normally, we wouldn't have access to data like this until it is published, but the willingness of the authors to pre-release this data will help support our development of WP1122 for treating COVID-19."

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Marriott International reopened all its hotels in China while it sees a recovery in demand in the United States, Chief Executive Officer Arne Sorenson said. The company had closed majority of its hotels in China and across the world following the spread of coronavirus and related lockdowns. The hotel chain, with around 350 outlets across China, said its occupancy rate in the country is now at 40% Many retailers including Target, Walmart and CVS announced temporary store closures in various regions across the United States following violence and looting amid the unrest related to the death of George Floyd. The street protests, some peaceful and some violent, erupted across the nation after Floyd was mercilessly killed by Minnesota police. Nestle USA, a division of Swiss food major Nestlé, announced the recall of certain Lean Cuisine Fettuccini Alfredo products citing misbranding and the presence of an undeclared allergen. According to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS, the recall involves approximately 29,002 pounds of chicken products.
RELATED NEWS
Follow RTT